Digital lenders in Nigeria: how to check they're licensed

Find the legal entity behind the app

'Digital lender' describes a delivery channel, not a single licence category. The website, app terms or proposed agreement may name a microfinance bank, finance company or another legal entity. The exact entity is more informative than a similar-looking app name.

Read the relevant regulator record

The Central Bank of Nigeria (CBN) maintains registers for institutions it supervises, including microfinance banks and finance companies. The Federal Competition and Consumer Protection Commission (FCCPC) publishes a separate Digital Money Lender approval list. Afiwe records the exact company and app names, register entry and actual checked date, keeping both references where an institution has both.

Federal Competition and Consumer Protection Commission (FCCPC) approval and a Central Bank of Nigeria (CBN) financial-institution listing establish different things. An Federal Competition and Consumer Protection Commission (FCCPC) approval-list entry is not a banking licence. The Federal Competition and Consumer Protection Commission (FCCPC) page shows no as-at date, so Afiwe describes its review as Federal Competition and Consumer Protection Commission (FCCPC) Digital Money Lender approval list, checked 2026-10-22, not as a live licence guarantee. A familiar app name or another registration is not a substitute for identifying the relevant legal entity.

Check that the destination belongs to the provider

Regulator records, the provider's legal information and the official website address can be considered together. Old domains can change hands, and look-alike addresses can refer to unrelated businesses. An accessible website alone does not prove either identity or current licence status.

What a dated listing means

Afiwe records when the public sources were checked. It does not monitor licence status continuously or guarantee the authenticity of every app using a similar name. Its directory is not an endorsement, approval of a loan offer or assurance that an applicant is eligible.

Only terms actually published by the provider are shown as figures. Where information is unavailable, the listing directs readers to the provider rather than filling the gap with an estimate.